Sunday, September 27, 2009

Brunei bank holds Islamic finance seminar

Bank Islam Brunei Darussalam Bhd (BIBD) conducted a one-day public seminar on Islamic finance on Sept 27 at Bandar Seri Begawan attended by some 300 participants.
The function was officiated by the bank's acting chairman and Brunei's Minister of Energy Mohammad Daud, reports Borneo Bulletin.
Dr Umer Chapra, a research adviser at the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IDB), made presentations on "The Islamic Vision of Development in the Light of Maqasid Shari'ah" and "The Global Financial Crisis: Can Islamic Finance Help?".
BIBD's managing director Javed Ahmad delivered the closing remarks.
BIDB, which became fully operational on July 3, 2006, was the result of a merger a year earleir between the Islamic Bank of Brunei Bhd (IBB) and the Islamic Development Bank of Brunei Bhd (IDBB).
It has 14 branches at all the four districts, according to information on its website.
BIBD subsidiary include Takaful BIBD Sdn Bhd, which provides insurance coverage and investments, and BIBD At-Tamwill Berhad, which provides fixed deposits, vehicle hire purchase and consumer product financing.
The bank's shariah advisory board is chaired by Brunei's deputy state mufti Awang Suhaili Mohiddin. Its members are Awang Metussin Awang Baki, Masnon Ibrahim, Awang Mazanan Yusof and Awang Shukri Ahmad.

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